Government adopts an initiative to postpone the repayment of Iraq's debts up to 2019

Government adopts an initiative to postpone the repayment of Iraq's debts up to 2019

7/31/2016 0:00

Baghdad , Alaa al - Taie
said the financial advisor to the prime minister a government initiative to postpone the repayment of Iraq 's debt of some member states of the Paris Club to offset the leverage of the country with the face of the crisis of liquidity caused by weak oil prices coupled with the cost of the war against «Daash» terrorist «, as he emphasized that Iraq 's debt the current account for 60 percent of GDP is within normal proportions ».

, said financial advisor to Prime Minister Saleh appearance in an interview with « morning »: he« aim of maximizing the leverage of Iraq 's government is seeking to postpone the repayment of debt owed ​​to some member countries of the Paris Club until the year 2019 », he is saying« no response from those countries, including Canada , which announced its willingness to postpone installments and interest on its debt beyond 2019.

» Saleh said the «Paris Club debt , both sovereign and non - sovereign been reduced to more than 80 percent», adding that «Iraq currently receives financial support from the International Monetary Fund over the next three years because of the liquidity crisis resulting from the weakness of global oil prices and the cost of war led on behalf of the world against «Daash» terrorist », pointing out that Iraq 's debt currently accounts for 60 percent of GDP , which is considered within normal proportions», saying «the presence of some of those debts or claims that have not been settled so far as belonging to the period before 2003 funding for military operations called «debt odious» is a foregone conclusion is still pending , or so - called «debt suspicious and negotiations are continuing».

and on the budget deficit for the current year as financial advisor to the prime minister «the increase occurred in the deficit in the 2016 budget year , said it amounted to 34 trillion dinars instead of 23 trillion dinars , which approved the federal budget for this year , based on the sale of $ 45 a barrel oil price », adding that« the fluctuation of prices , the sale of oil earlier this year was born a deficit valued at 11 trillion dinars extra prompting the government to reduce and reduce domestic spending ».

Saleh acknowledged« there is an initiative of the Iraqi consultative government with the secretariat of the Paris Club to postpone the payment of debt installments of the member states beyond the end of the agreement and the program with the international Monetary Fund in 2019 «, noting that« Iraq 's debt owed ​​to foreign governments $ 17 billion and $ 500 million including nine billion to the Paris Club », following« that Iraq 's annual Paris Club payments of approximately $ 800 million, confirming the issuance of Iraq 's commercial sovereign bonds worth $ 2.7 billion maturing in 2028 ».

the international Monetary Fund has given last may approval principle to provide $ 5.4 billion over three years to help Iraq -aledo Organization Aopk- to bridge the budget deficit. »